Payment news, September 7

The Singapore Mercantile Exchange goes live, while Daiwa selects a platform to power its electronic trading infrastructure in Asia.
September 06, 2010

SMX is now live

The Singapore Mercantile Exchange SMX began operations on August 31 with the appointment of Standard Chartered, Royal Bank of Scotland and ICICI Bank as settlement banks. SMX is regulated and licensed by the Monetary Authority of Singapore and offers multi-currency and multi-asset clearing, trading and pricing for contracts.

“We are focused on listing contracts to meet specific market needs of industry participants by providing bespoke futures contracts. Specialised derivatives solutions allow SMX to enhance market risk management and unlock hidden value by creating markets,” said Thomas J. McMahon, chief executive of SMX, in a statement. “It will be broad-based, have multiple lines and...

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